NBC set to mark anniversary with mobile banking in sight

The National Bank of Commerce (NBC) is expected to celebrate its 45 years anniversary along with plans to launch its mobile banking system in September this year.

Speaking to reporters at the NBC bank ABSA Capital Economic Forum organised by the banks for its corporate clients in Dar es Salaam on Wednesday to share a regional and global economic outlook, NBC Managing Director Lawrence Mafuru said that the bank will celebrate its 45 years anniversary since it was founded early in 1967.

Mafuru said that the bank plans to establish a mobile banking system in September to reduce customers’ queues at its bank tellers across the country.

“We have experienced a growing number of customers such as business people and public servants who trade with NBC in their financial needs and services,” he said.

He said the challenge of the bank is during the innovation of information technology which enforces majority of its workers to adapt a new working environment of technological banking system.

Mafuru clarified that the number of customers has been increasing since, adding that the bank will continue to open more branches in order to serve more customers in the country.

He said bank’s celebration will go along with the improvement of its products as part of its efforts to foster social and economic development of the country.

Mafuru said overtime the bank has developed a number of products such as Islamic banking, mortgage, internet banking and corporate social responsibility.

He noted that one of the successful achievement made by the bank is the recreation of the National Microfinance Bank (NMB) which was within the bank system.

For his part Absa Capital Head of Africa Macro Research Jeff Gable said the Tanzanian economy is expected to continue to grow despite its double digit inflation.

He said the Tanzanian economy will continue to grow if the governments will investment in infrastructure which would lower down the country’s food inflation.